Welcome to the Loyalty Factor Information Exchange, a bi-weekly service providing summaries of major publications and books on various management and customer relationship topics.
Loyalty Factor has been instrumental in helping companies:
- Increase Customer Satisfaction by 20 – 33%
- Increase Revenues by 50% in 18 months
- Increase Manufacturing Production by 200% in 18 months
- Simplifying mergers and acquisitions
Our information exchange this week highlights the Harvard Business Review article, “It’s Hard to be Good” by Alison Beard and Richard Hornick.
It’s Hard to Be Good
One of the company’s highlighted in this article is the Broad Group located inChangsha,China. The company was founded in 1988 and has approximately 2600 employees. It develops and manufactures energy-efficient air conditioners that counter intuitively use natural gas or waste heat to cool. It’s better for the environment and avoids ozone-depleting refrigerants used in electric cooling, reducing the load on power grids.
Value statements for The Broad Group include:
- “Responsibility is more important than growth.”
- “Protecting the environment is more important than profit.”
- “Love is more important than anything else.”
- “If you offer something of social value, you will survive, and you will prosper.”
One may not expect these values from a company based in a hypercompetitive and high-pollution China, or a company with industrial customers in 70 countries and 500 million dollars in sales, and is led by a man worth an estimated 850 million dollars.
According to Zhang Yue, Chairman, “Being good itself is competitive.” His view is “A bad company may be competitive in the market for a while, but it won’t last long. If you offer something of social value, you will survive, and you will prosper.”
“If everybody and every business becomes socially responsible,” he says, “then the earth will become a beautiful hometown for us all.” Let’s all work to make the earth a better place for all of us.
The question I ask our readers,
“What are you and your company doing
to make the earth a better place for all of us?”
To build more responsibility and value in your organization, contact Loyalty Factor. Loyalty Factor’s programs have helped many executives and leaders take their organizations to the next level. Call Loyalty Factor at 603-334-3401 and see how we can help you build a responsibility based culture in your organization.